High Liner Foods Inc (HLNFF)

Description:

High Liner Foods Inc was incorporated on March 1, 1967. The Company is North America's processor and marketer of value-added frozen seafood companies servicing the retail, food service and club store channels. The Company's retail branded products are sold in the U.S., Canada and Mexico under the High Liner, Fisher Boy, Mirabel and Sea Cuisine labels, and are available in groceries and club stores. The Company also sells branded products to restaurants and institutions under the High Liner, Icelandic Seafood, FPI, Viking, Mirabel, Samband of Iceland and effective October 1, 2013, American Pride Seafoods labels. The Company purchases its seafood raw material and finished goods from around the world, including Canada, the U.S., Europe, Asia and South America. Finished products in North America is held in modern cold storage facilities, located in: Lunenburg, Nova Scotia; Peabody and New Bedford, Massachusetts; Portsmouth, New Hampshire; Newport News, Virginia; and at third-party cold storage centers. From these centers products are distributed in North America. The Company has launched several product platforms such as Upper Crust, Pan Sear and Fire Roasters. Fire Roasters products are marketed in Canada as Flame Savours. The Company markets the seafood products under its proprietary brands including: High Liner, FPI and Mirabel trademarks in Canada, and High Liner, FPI, Mirabel, Sea Cuisine, Fisher Boy, Viking, Icelandic Seafood, Samband of Iceland and American Pride Seafoods trademarks in the U.S. The products are also sold in Mexico under the Sea Cuisine and Fisher Boy trademarks. The Company has processing plants in: Lunenburg, Nova Scotia; Portsmouth, New Hampshire; Malden and New Bedford, Massachusetts; and Newport News, Virginia. It also has distribution centers and a sales organization or broker network across both Canada and the U.S. Significant distribution centers are located in: Peabody, Massachusetts; Newport News, Virginia; Lunenburg, Nova Scotia; Brampton, Ontario; and Edmonton, Alberta. The Company is committed to quality products, sustainable sourcing, food safety and the development of new and products for the foodservice industry. The Company's food processing plants are subject to federal, provincial and state and legislation and regulation with respect to safety and environmental matters. The Company's competitors in retail seafood market are national marketers of brand name and generic products, including Nippon Suisan which owns the Gorton's brand in the U.S. and BlueWater brand in Canada, Pinnacle Foods Corporation which owns the Mrs. Paul's and Van de Kamp brands in the U.S., Rich SeaPak (U.S.), Trident Seafoods Corporation, Jane's Family Foods Ltd. (Canada) and Aqua Star (Canada). In the food service market the Company competes with Trident Seafoods Corporation, Nippon Suisan who owns King & Prince in the U.S., Tampa Maid, Red Chambers who owns Tampa Bay Fisheries, Ocean Beauty, Aqua Star, Beaver Street Fisheries Inc., Pacific Seafood Group and many smaller trading companies. Competitors in Canada include Toppits Quality Frozen Foods, Export Packers Company Limited, Clearwater Seafoods, Trident Seafoods Corporation and many smaller trading companies. The Company's food processing plants are subject to federal, provincial and state and legislation and regulation with respect to safety and environmental matters.